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Korea's Spending on ICT R&D Ranks 2nd among OECD Nations
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South Korea's investment in research and development of information and communication technology (ICT) ranks the second highest among major global economics, data showed Sunday.

According to the data by the Organization for Economic Cooperation and Development (OECD), South Korea's spending on ICT research and development nears 1.5 percent of its gross domestic product (GDP).

The figure was the second highest among member nations of the Paris-based club of major economies, trailing only Finland's 1.62 percent.

Investment by the manufacturing sector, which includes tech behemoth Samsung Electronics Co., accounts for 1.36 percent of South Korea's GDP, with the software industry taking up the remainder, according to the data.

Investment in research and development by South Korea's ICT industry made up 53.1 percent of the country's total research and development expenditures, ranking fourth among major economies, the data showed.

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Source: Yonhap News (Nov. 4, 2012)

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